GAMMA Investing LLC Has $1.84 Million Position in Intercontinental Exchange Inc. $ICE

GAMMA Investing LLC lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,912 shares of the financial services provider’s stock after selling 3,520 shares during the period. GAMMA Investing LLC’s holdings in Intercontinental Exchange were worth $1,836,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares during the period. USS Investment Management Ltd lifted its holdings in Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares during the last quarter. Walter Public Investments Inc. boosted its position in Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the period. OFI Invest Asset Management boosted its position in Intercontinental Exchange by 51,986.3% during the fourth quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock worth $64,872,000 after purchasing an additional 399,775 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $149.77 on Friday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The firm has a market cap of $84.08 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 1.48 and a beta of 0.92. The firm’s 50-day simple moving average is $139.47 and its 200 day simple moving average is $152.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reaffirmed a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays reissued an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen restated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.